Polymer compositions are often utilized in materials requiring low water absorption with high elasticity. In recent times, neoprene polymer compositions, such as neoprene foams, have been relied upon for use in various applications such as, for example, scuba diving suits, rubber gaskets and washers, tubing, gloves, belting, die cutting, extrusions, sheets, and bearings, where the elastomeric properties are important. Neoprene polymer compositions, however, include chlorine, plasticizers, sulfur, peroxides, or a combination thereof. As a result, neoprene polymer compositions may provide advantageous elastomeric properties, but the process for their production requires environmentally unfriendly, hazardous components. Thus, there exists a need for a polymer composition that exhibits advantageous elastomeric properties as well as a process for preparing a polymer composition that utilizes fewer, if any, environmentally unfriendly, hazardous components.